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BuzzLogic, a San Francisco-based startup which helps help marketers make sense of social media and identify relevant and influential blogs, has received $9.6m (£4.9m) in venture capital. The company has now raised over $11m in funding.
BuzzLogic works by identifying 'influencers' - posts or bloggers that generate a significant number of relevant inbound links and comments about a particular topic or conversation, within a defined timeframe.
It uses four criteria to define an influential blog:
- Overall traffic and number of inbound links.
- Contextual relevance to a customer’s specified area of concern, such as key words.
- Frequency of content publication on such topics.
- The traffic it sends back to the marketer.
We've questioned whether you can rely solely on inbound links to rate blogs' popularity, so it's good to see the company using other metrics as well. It will also be interesting to see whether the move will create more pressure for common measurement standards for blogs.
I guess what really makes any publication influential is a) its readers (reach, status), and b) its effect on shifting or reinforcing the opinions of those readers. And both of those things are very hard to measure accurately.
BuzzLogic is still in its testing phase, with 80 customers signed up for the trial. When the product goes live, it says its prices will start from $500 per month.
BuzzLogic CEO Rob Crumpler says:
"We address a clear marketing need: how to understand and engage with social media such as blogs. We believe that understanding who is influential will help marketers better focus their listening, and better direct their influencer-oriented marketing initiatives."
We know of a couple of pre-launch startups in Europe working in similar(ish) areas, so watch this space folks...